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"The frequently observed positive impact of adopting risk management strategies on projects’ overall outcome has led many software development organizations to appreciate its significant role in the pursuit of cost reduction, schedule overruns decrease and , generally , improved performance. In line with this issue , this study investigates a wide range of relevant literature , proposes a new conceptual framework for ma naging risk in software development projects , intro- duces new conceptual factors, brings out their interrelation , and suggests new prospects and managerial implications for both practitioners and academics. The conceptual framework has two basic axes. "